Twitter stock sinks after reporting decline in active users

Twitter stock dropped more than 20pc on Friday after the company announced the number of monthly active users fell by 1 million.

Just a day after a historic plunge in the share price of Facebook, which alarmed investors with a warning of slowing growth and rising costs, Twitter said that the total number of active users – people who log into the service every month – had fallen by 1m to 335m.

The drop in the number of people using Twitter, which comes amid intense criticism of the platform for its failure to police hate speech, abuse and extremist content, has compounded fears that the use of social media platforms may have peaked.